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EURGBP Symmetrical Triangle Breakout and Short Opportunity

EURGBP Symmetrical Triangle Breakout and Short Opportunity

Description: Chartraderpro finds a forming symmetrical triangle pattern. The breakout can be in both bearish and bullish direction. However, looking at the bigger picture, the pattern appears to be a bearish continuation triangle.

Trade Period: Intraday

Pair / Instrument: EURGBP

Time Frame: H4

The trend in the Timeframe: Neutral

The trend in the Daily Chart:  Bearish

Trade Based On: Symmetrical Triangle Pattern

Accuracy: %83

Recommended Lot Size: 0.07@ 10 K Account with 1:100 Leverage

Trade: Short

The Area Of The Entry:  Potential Breakout Level 0.87700 – 0.87650 . Wait for the breakout of the line !!!!!

Stop Loss: 0.88300

Target 1: 0.87300

Target 2: 0.87000

Target 3: 0.86800

What to Pay Attention:

You can view the setup: EURGBP Triangle Pattern

 

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Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURJPY Bullish Butterfly Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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